For those of you who are concerned about WTI pulling back below $80 please take some time to read the multiple threads at this link.
It's counter-intuitive and scary, but the pullback below $80 is very, very important on so many levels.
For those investing in the stock market this may provide some buying opportunities.
Unless it's a prolonged pullback, more than three months, it should not affect royalty payments to much extent.
God must have a sense of humor and successful oil men must have nerves of steel. On the day Harold Hamm closes / announces a $3 billion deal to buy into the Permian, WTI crashes five percent and drops below $80.
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Laugh, Laugh, I Thought I Would Die
Several story's I've seen have the drop as an over reaction to Iran nuke talks startup end of Nov.
ReplyDeleteOver reaction because no one is even sure those talks/negotiations will even happen, given volatile political climate in DC.
LOL. Iran doesn't even that much oil to make a difference, and what oil it has will be sucked up by China. I guess I've heard the same thing -- Biden so frustrated he was trying to scare US oil companies and/or OPEC+ into producing more oil.
DeleteThis is a refreshing common sense approach
ReplyDeletehttps://youtu.be/wGTBBgF2naY
Thank you. I can listen to that in the background while blogging. Thank you.
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